With Respect to Property Settlements in a Divorce or Separation,all

question 102

Multiple Choice

With respect to property settlements in a divorce or separation,all of the following are true with the exception of

• A)a property settlement does not result in income to either spouse.
• B)no tax deduction is allowed for payment of a property settlement.
• C)the spouse receiving a property settlement has a basis equal to the basis of that property to the paying spouse prior to payment.
• D)All of the above statements are correct.

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Definitions:

Interlocking Minerals

Minerals that grow together and interlock their crystals, often found in igneous rocks.

Eroded Rocks

Rocks that have been worn down or broken apart by the forces of weathering and erosion.

Cleavage

The tendency of a mineral to break along smooth flat surfaces according to its crystal structure.

Luster

The way a mineral reflects light from its surface, which can be metallic, glassy, dull, etc., and is used in mineral identification.